交易所数据显示，截至13时1分，西部矿业涨幅为9.99%，最新价34.90元，总市值831.67亿元，封板资 金1.83亿元，成交额30.26亿元，换手率3.79%。 声明：本内容由AI生成，数据资料来自于交易所及第三方公开信息，仅供参考，不构成投资建议。 市场炒作聚焦西部矿业的核心资源储备与产业布局优势。公司坐拥铜、铅锌、铁等关键矿产资源，业务 贯穿矿产全产业链。旗下玉龙铜矿增储取得进展，新增铜金属资源量131.42万吨，伴生钼金属资源量 10.77万吨，强化了对上游核心资源的掌控力。公司竞得安徽省茶亭铜多金属矿勘查探矿权，该矿具备 可观的资源增长潜力。此外，公司申请盐湖高纯高体密烧结镁砂制备方法专利，可充分利用盐湖镁资 源，制得高纯度与高体密度的烧结镁砂，同时打造完成有色金属行业特色的财务共享平台，实现质效、 管控、赋能的全面提升。 来源：市场资讯 消息面上，全球能源转型加速，电网建设、电动汽车、可再生能源及数据中心对铜的需求持续攀升。近 期现货黄金突破5000美元大关，全球央行持续增持黄金储备，中国人民银行已连续14个月增持黄金，波 兰央行批准购买多达150吨黄金的计划。疲软的美元进一步提振市场对黄金的 ...

声明：市场有风险，投资需谨慎。本文为AI大模型基于第三方数据库自动发布，任何在本文出现的信 息（包括但不限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，不构成 个人投资建议。受限于第三方数据库质量等问题，我们无法对数据的真实性及完整性进行分辨或核验， 因此本文内容可能出现不准确、不完整、误导性的内容或信息，具体以公司公告为准。如有疑问，请联 系biz@staff.sina.com.cn。 责任编辑：小浪快报 登录新浪财经APP 搜索【信披】查看更多考评等级 2026年1月26日，西部矿业（sh601168）触及涨停，涨停价34.9元，涨幅9.99%，总市值831.67亿元，流 通市值831.67亿元，截止发稿，总成交额30.84亿元。 根据喜娜AI异动分析，西部矿业涨停原因可能如下，资源储备增加+产能扩张+财务优化： 1、公司近期 公告显示资源储备持续增加，玉龙铜矿三期工程进展顺利，还成功竞得安徽茶亭大型铜金矿探矿权，新 增铜131万吨、钼10.77万吨，茶亭铜矿含65.67万吨铜 + 248吨金，资源储量提升42%，显著增强了长期 资源保障能力。同时，玉龙铜矿三期明确产能扩张计划，将 ...

Investment Rating - The report maintains a positive outlook on the non-ferrous metals industry [6]. Core Viewpoints - Liquidity expectations have upgraded, leading to intensified trading. Recent optimistic interest rate cut expectations have resurfaced, driving both precious and industrial metals to break through previous levels. In the past week, the negative feedback for copper and aluminum has significantly weakened, and improvements in the real economy may be observed under high price conditions. Overall, the bullish trend for industrial products remains unchanged under the support of domestic and international policies [3][9]. Summary by Sections 1. Cycle Assessment - The report indicates an upgrade in liquidity expectations and a continuation of intense trading. The probability of BlackRock executive Riedel being elected as the Federal Reserve Chairman has surged to 54%. The optimistic expectations for interest rate cuts have reignited, pushing precious and industrial metals to new highs. Although copper and aluminum inventories continue to accumulate, the pace of accumulation has slowed, and the negative feedback from downstream processing has significantly diminished, with operating rates beginning to recover [9][13]. 2. Industry and Stock Performance - The non-ferrous metals sector saw a weekly increase of 6.03%, ranking fourth among all industries [28]. The report lists several investment targets, including Chifeng Jilong Gold Mining (600988, Buy) and Zijin Mining (601899, Buy) [4]. 3. Precious Metals - Precious metals are experiencing intense liquidity trading, awaiting the confirmation of the Federal Reserve Chairman nomination. As of January 23, SHFE gold rose by 8.07% to 1,115.64 CNY per gram, while COMEX gold increased by 7.54% to 4,036.00 USD per ounce. The report notes that the market expects limited upward pressure on precious metals in the short term due to anticipated interest rate stabilization [14][30]. 4. Copper - The report highlights renewed support for copper prices due to supply disruptions. As of January 23, SHFE copper rose by 0.57% to 101,340 CNY per ton, and LME copper increased by 2.44% to 13,115 USD per ton. Supply tightness continues, with recent strikes in Chile affecting copper concentrate availability [17][70]. 5. Aluminum - The report indicates a reduction in negative feedback for aluminum, with demand showing marginal recovery. As of January 23, SHFE aluminum rose by 1.53% to 24,290 CNY per ton, and LME aluminum increased by 1.12% to 3,169 USD per ton. The processing operating rate has risen by 0.7 percentage points to 60.9% [16][83].

要点 本周小结： 2026 年供需偏紧仍支持铜价上行。截至 2026 年 1 月 23 日，SHFE 铜收盘价 101340 元/吨，环比 1 月 16 日+0.57%；截至 2026 年 1 月 23 日，LME 铜收盘价 13129 美元/吨，环比 1 月 16 日+2.54%。（1）宏观：市场对美联储 2026 年 1 月不降息已经基本定价。（2）供需：TC 现货价续创新低，显示铜精 矿现货采购依然紧张；线缆企业开工率本周环比回升，但国内社会库存继续增长， 铜价大涨对需求有压制；但展望 2026 年，供需依然偏紧，继续看好铜价上行。 库存：国内铜社库环比+2.9%，LME 铜库存环比+16.9%。（1）港口铜精矿库存： 截至 2026 年 1 月 23 日，国内主流港口铜精矿库存 71.9 万吨，环比上周+4.1%。 （2）全球电解铜库存：截至 2026 年 1 月 23 日，全球三大交易所库存合计 96.0 万吨，环比 1 月 16 日+6.2%。截至 1 月 22 日，LME 铜全球库存 17.2 万吨，环 比+16.9%；SMM 铜社会库存 33.0 万吨，环比 1 月 16 日+2.9%。截至 ...

Investment Rating - The report maintains a positive outlook on the non-ferrous metals industry [6] Core Viewpoints - Liquidity expectations have upgraded, leading to intensified trading. Recent optimistic interest rate cut expectations have resurfaced, driving both precious and industrial metals to break through previous levels. The negative feedback for copper and aluminum has notably weakened, and improvements in the real economy may be observed under high price conditions. Overall, the bullish trend for industrial products remains unchanged under the support of domestic and international policies [3][9] Summary by Sections 1. Cycle Assessment - The cycle assessment indicates an upgrade in liquidity expectations and a continuation of intense trading. The probability of BlackRock executive Riedel being elected as the Federal Reserve Chairman has surged to 54%. The optimistic expectations for interest rate cuts have reignited, pushing precious and industrial metals to new highs. Although copper and aluminum inventories continue to accumulate, the pace of accumulation has slowed, and the negative feedback from downstream processing has significantly diminished, with operating rates beginning to recover [9][13] 2. Industry and Stock Performance - The non-ferrous metals sector saw a weekly increase of 6.03%, ranking fourth among all industries [28]. The precious metals sector experienced the highest gains [21]. 3. Precious Metals - For precious metals, trading has become intensely liquid, awaiting the confirmation of the Federal Reserve Chairman nomination. As of January 23, SHFE gold rose by 8.07% to 1,115.64 CNY per gram, while COMEX gold increased by 7.54% to 4,036.00 USD per ounce. The inventory levels for SHFE gold were 102 tons, an increase of 1.96 tons from the previous week [14][30]. 4. Copper - The copper market is experiencing renewed support due to supply disruptions. As of January 23, SHFE copper rose by 0.57% to 101,340 CNY per ton, and LME copper increased by 2.44% to 13,115 USD per ton. The operating rate for refined copper rods was 67.98%, up by 10.51 percentage points [17][29]. 5. Aluminum - The aluminum market shows signs of demand recovery as negative feedback weakens. As of January 23, SHFE aluminum rose by 1.53% to 24,290 CNY per ton, and LME aluminum increased by 1.12% to 3,169 USD per ton. The processing operating rate rose by 0.7 percentage points to 60.9% [16][85].

Investment Rating - The investment rating for the non-ferrous metals industry is "Positive" (maintained) [4] Core Views - The report highlights that copper prices are experiencing high-level fluctuations amidst inventory accumulation, with short-term price adjustments expected to be limited due to the financial attributes of copper supported by rising gold prices. The supply-demand balance for copper may shift from tight equilibrium to shortage in the medium to long term, driven by insufficient capital expenditure in copper mines and frequent supply disruptions. The report suggests monitoring companies such as Zijin Mining, Luoyang Molybdenum, Jiangxi Copper, and others [5] - For aluminum, the report notes that both alumina and aluminum prices are under pressure due to high inventory levels. The short-term outlook for aluminum prices is expected to remain stable amidst high demand, particularly in the air conditioning and consumer goods sectors [5] - Lithium demand remains strong despite seasonal trends, with lithium carbonate prices entering an upward cycle driven by supply-demand reversal. The report recommends focusing on companies with high self-sufficiency in lithium resources [5] - Cobalt prices are expected to continue rising due to tight raw material supply, with the report suggesting companies like Huayou Cobalt and others for investment [5] Summary by Sections 1. Industry Overview - The report provides insights into macroeconomic indicators, including the U.S. core PCE price index and unemployment claims, which align with expectations [9] - Key announcements include Zijin Mining's completion of the second phase of the Jilong Copper Mine, significantly increasing its production capacity [10] 2. Market Performance - The non-ferrous metals sector outperformed the Shanghai Composite Index, with a weekly increase of 6.03% compared to the index's 0.84% rise [11] - The report lists the top-performing stocks in the sector, highlighting significant movements in various sub-sectors [11] 3. Valuation Changes - The report notes that the TTM PE for the non-ferrous metals sector is 33.82, with a change of 1.79, while the PB is 4.18, reflecting a significant premium over the broader market [20][23]

Investment Rating - The report maintains a "Buy" rating for all key companies listed, including Zijin Mining, Luoyang Molybdenum, and Huayou Cobalt, among others [2]. Core Insights - The report highlights a significant increase in commodity prices, particularly in precious metals like gold and silver, driven by rising geopolitical tensions and inflation concerns [8][67]. - Industrial metals are expected to see price stability due to improved domestic demand and production adjustments, despite some fluctuations in inventory levels [21][24]. - The energy metals sector, particularly cobalt and nickel, is facing supply constraints, which may lead to price increases in the near future [83]. Industry and Company Performance - The SW Nonferrous Index rose by 6.03% during the week of January 19-23, with precious metals like gold and silver increasing by 8.30% and 14.80%, respectively [8]. - Key companies such as Zijin Mining and Luoyang Molybdenum are projected to have strong earnings growth, with EPS estimates for 2024 at 1.21 and 0.63 yuan, respectively [2]. - The report recommends several companies for investment, including Shengtu Mining, China Nonferrous Mining, and Western Mining, based on their strong market positions and growth potential [8]. Base Metals - Aluminum prices are expected to remain under pressure due to high inventory levels, with LME aluminum prices recorded at $3,174 per ton, reflecting a 1.44% increase [13][24]. - Copper prices are influenced by macroeconomic factors, with current prices at $13,128.5 per ton, showing a 2.50% increase [13][38]. - Zinc prices have shown volatility, with LME zinc prices at $3,246.5 per ton, reflecting a 1.17% increase, driven by supply disruptions [43][44]. Precious Metals - Gold and silver prices have surged due to heightened geopolitical risks, with gold trading at approximately 4,983.10 USD per ounce, an increase of 8.30% [15][67]. - The report emphasizes the long-term bullish outlook for gold prices, supported by central bank purchases and weakening dollar credit [67]. Energy Metals - Cobalt prices are expected to rise due to ongoing supply shortages, with current prices around 432,500 yuan per ton [83]. - Nickel prices are projected to remain high due to production cuts in Indonesia, with current prices at 148,010 yuan per ton [55].

（文章来源：证券日报） 证券日报网讯 1月23日，西部矿业在互动平台回答投资者提问时表示，截至1月20日，公司股东总户数 为12.76万户。 ...

Group 1 - The core point of the news is that Western Mining Co., Ltd. experienced a stock price increase of 5.05%, reaching 31.83 CNY per share, with a trading volume of 1.773 billion CNY and a turnover rate of 2.40%, resulting in a total market capitalization of 75.851 billion CNY [1] - Western Mining is primarily engaged in the mining, smelting, and trading of non-ferrous metals such as copper, lead, zinc, and iron, with 99.70% of its revenue coming from product sales [1] - The company was established on December 28, 2000, and was listed on July 12, 2007, with its headquarters located in Xining, Qinghai Province [1] Group 2 - Huashang Fund has a significant holding in Western Mining, with its Huashang Upstream Industry Stock A fund (005161) holding 2.7258 million shares, accounting for 3.02% of the fund's net value, making it the seventh-largest holding [2] - The Huashang Upstream Industry Stock A fund has achieved a return of 11% year-to-date, ranking 1130 out of 5546 in its category, and a return of 96.09% over the past year, ranking 118 out of 4261 [2] - The fund manager, Zhang Wenlong, has been in charge for 2 years and 174 days, with the fund's total asset size at 2.99 billion CNY and a best return of 99.4% during his tenure [3]

泰康中证500指数增强发起A（018116）基金经理为袁帅。 截至发稿，袁帅累计任职时间1年231天，现任基金资产总规模18.37亿元，任职期间最佳基金回报 72.02%， 任职期间最差基金回报3.64%。 声明：市场有风险，投资需谨慎。 本文基于第三方数据库自动发布，任何在本文出现的信息（包括但 不限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，不构成个人投资建 议。受限于第三方数据库质量等问题，我们无法对数据的真实性及完整性进行分辨或核验，因此本文内 容可能出现不准确、不完整、误导性的内容或信息，具体以公司公告为准。如有疑问，请联系 biz@staff.sina.com.cn。 责任编辑：小浪快报 1月23日，西部矿业涨5.05%，截至发稿，报31.83元/股，成交17.71亿元，换手率2.40%，总市值758.51 亿元。 资料显示，西部矿业股份有限公司位于青海省西宁市海湖新区文逸路4号西矿·海湖商务中心1号楼，成 立日期2000年12月28日，上市日期2007年7月12日，公司主营业务涉及主要从事铜、铅、锌、铁等基本 有色金属、黑色金属的采选、冶炼、贸易等业务。主营业务收入构成 ...